A recently announced regulatory clarity for Solana in Hong Kong has opened up a new wall of hope for SOL investors and the community. While the Solana prediction for $300 seems to have gone out the window, the recently approved SOL ETF in Hong Kong has brought the discussion back on the table. 

Although Solana price seems set for the moon in Q4 ending, another project, Remittix (RTX), seems more promising and is rapidly becoming the investors' choice. 

SOL Spot ETF approved in Hong Kong

Earlier this week, Hong Kong futures and securities approved the SOL ETF, surpassing the United States and others. According to the regulations, the first Solana spot ETF will launch on the 27th of October, which will be managed by ChinaAMC, and will trade in HKD, USD, and RMB, directly holding SOL. It allows direct investment in Solana's SOL token and is listed on the Stock Exchange of Hong Kong.

The Hong Kong regulatory body stated that the country aims to become Asia's leading crypto hub. While the ETF offers a clean investment option with low fees, it also carries significant risks due to the volatility of SOL and potential regulatory changes.

Experts predict that SOL ETF could attract $1 billion in inflows in its first year, highlighting Hong Kong's role as a bridge between traditional finance and the decentralised economy. However, the once anti-crypto preacher, J.P. Morgan, says that inflows are modest compared to its BTC and ETH counterparts.

Since its approval, the Solana ecosystem has experienced a significant increase in institutional activities and interest. There are 23 active filings for exchange-traded products (ETPs). 

Major firms, such as Grayscale and Fidelity, are among the filers. As many bigwigs and institutional investors jump into the SOL ETF, the use of blockchain will deepen in the region.

Solana's on-chain activity is rising, with increased volume and RSI recovery suggesting a potential breakout. The price has rebounded from support but needs to surpass the resistance level for upward momentum to continue.

The Feasibility of Solana Price Prediction of $300

Technically, Solana's structure appears constructive and bullish, with higher lows, improving volume, and responsive dip buying. Solana has broken the floor of the rising trend channel, which indicates a weaker initial rising rate. The currency is moving towards its support at $183, which may give a positive reaction. 

However, if SOL breaks through $183, then we might be headed for $170. While Solana's price prediction for a climb toward $300 by 2026 is feasible, this would represent strong growth from current levels. 

Remember, Solana is an established project with a market cap of $106 billion; a massive surge would require an almost impossible amount of inflows. 

Remittix, The Emerging PayFi Rewriting The Story 

Remittix (RTX) is a PayFi platform that aims to combine speed, scalability, and DeFi to solve a $19 trillion payment gap between traditional payment systems and cryptocurrency. 

Beta testing for the Remittix wallet is now live, and community users are participating in the testing. Additionally, Remittix smart contracts are fully CertiK audited; liquidity and team tokens are locked for three years, and the Remittix team is now verified by CertiK, the #1 blockchain security firm. RTX is ranked #1 on CertiK for pre-launch Token.

The feasibility of SOL peaking at $300 is 50/50, and seasoned investors can see it. Investing in SOL is a high-risk bet, likely a setup for losses. Invest in Remittix today! 

Discover the future of PayFi with Remittix by checking out their project here:

Website: https://remittix.io/        

Socials: https://linktr.ee/remittix      

$250,000 Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway